Although a Republican victory in November might revive efforts to release the GSEs from conservatorship, this would likely be a multi-year effort, according to the former FHFA director.
Freddie is adding loan mod functions to its Resolve system and retiring Workout Prospector. The GSE is also setting new fraud reporting requirements for lenders and servicers.
Experts recommend industry stakeholders start working with the new credit scores if they want to be prepared when the transition from FICO Classic to FICO 10 T and VantageScore 4.0 goes into effect.
Landlords who repeatedly fail to provide tenants the new enterprise protections could be subject to a 0.20% penalty on their original loan amount or even a default.
Even with the implementation of new asset haircuts and other restrictions into the private mortgage insurance eligibility requirements framework, GSE-approved insurers say they will still have large available asset buffers.
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